Article 1.　The rights and obligations held by the Central Life Insurance Corporation in connection with its insurance business shall be succeeded by the Kyoei Life Insurance Company, Ltd., on the day of enforcement of this Law on the term stipulated by the competent Minister.

Article 2.　When the Kyoei Life Insurance Company, Ltd., has sustained a loss or losses from the rights and obligations concerned with the contracts of the war death and accident insurance and the contracts of reinsurance of the war risks (meaning death caused by war or other disturbances;the same shall apply hereunder) involved in the life insurance which the Company has acquired by succession from the Central Life Insurance Corporation in accordance with the provisions of Paragraph 1 of the preceding Article, the Government will indemnify the Kyoei Life Insurance Company, Ltd., for the loss or losses sustained.

Article 3.　The rights and obligations held by the Central Non-life Insurance Corporation in connection with its insurance business shall be succeeded by the Toa Fire and Marine Insurance Company, Ltd., on the day of enforcement of this Law on the terms stipulated by the competent Minister.

Article 4.　When the Toa Fire and Marine Insurance Company, Ltd., has sustained a loss or losses from the business based on the rights and obligations which the Company has acquired by succession from the Central Non-life Insurance Corporation in accordance with the provisions of the preceding Article, the Government will indemnify the Toa Fire and Marine Insurance Company, Ltd., for the loss or losses sustained.

Article 5.　The Kyoei Insurance Company, Ltd. must administer and keep accounts, separate and distinct, of the revenues and disbursements based on the insurance business carried on in pursuance of the former Law concerning war death and accident insurance;of the revenues and disbursements based on the business concerning reinsurance of war risks involved in the life insurance contracts;and of the properties in connection with the business concerning insurance contracts formerly contracted with the Allied insurance companies as insurers;and also of the revenues and disbursements based on the business concerned.

Article 6.　No Stamp Duty shall be levied on the documents concerning the business provided in Paragraph 1 of Article 4 of the Toa Fire and Marine Insurance Company, Ltd. and the insurance companies stipulated in Paragraph 3 of the same Article.

Article 7.　With respect to the calculation of incomes under Corporation Tax Law and net profit on which the business is to be imposed by the Local Tax Law, the following amounts shall be deducted from the gross profits of each account:i. e., of the Kyoei Life Insurance Company, Ltd., the revenues based on the business of insurance in accordance with the former Law concerning war death and accident insurance;the revenues based on the business of reinsurance of war risks involved in the life insurance, as well as the indemnity received from the Government for losses sustained from this business;and of the Toa Fire and Marine Insurance Company, Ltd. and the insurance companies stipulated in Paragraph 3 of Article 4, the revenues based on the business of Paragraph 1 of the same Article, as well as the indemnity received from the Government for losses sustained from the business concerned;and, on the contrary, the following amounts shall be reducted from the gross losses of each account:i. e., of the Kyoei Life Insurance Company, Ltd., the disbursements based on the business of insurance in accordance with the former Law concerning war death and accident insurance, the disbursements based on the business of reinsurance of war risks involved in the life insurance, as well as the payment to the Government as to the profit due to the business concerned;and of the Toa Fire and Marine Insurance Company, Ltd., and the insurance companies stipulated in Paragraph 3 of Article 4, the disbursements based on the business of Paragraph I of the same Article, as well as the payment to the Government as to the profit due to the business concerned.

Article 8.　In case the Central Life Insurance Corporation and the Central Non-life Insurance Corporation transfer the securities in their possession in accordance with the provisions of Paragraph 1 of Article 1 and Article 3, the Securities Transfer Tax shall not be levied.

Article 9.　The Central Life Insurance Corporation and the Central Non-life Insurance Corporation are to be dissolved on the day the competent Minister designates.